Form 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                |X|    Quarterly Report Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934.
                       For the quarterly period ended June 30, 1999

                |_|    Transition Report Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934.
                       For the transition period from _______ to _______

                         Commission File Number 0-21552

                      ATEL Cash Distribution Fund IV, L.P.
             (Exact name of registrant as specified in its charter)

California                                                       94-3145429
(State or other jurisdiction of                              (I. R. S. Employer
incorporation or organization)                               Identification No.)

                   235 Pine Street, 6th Floor, San Francisco,
                     California 94104 (Address of principal
                               executive offices)

       Registrant's telephone number, including area code: (415) 989-8800



Indicate  by a check  mark  whether  the  registrant  (1) has filed all  reports
required to be filed by section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.

                                     Yes |X|
                                     No |_|

                       DOCUMENTS INCORPORATED BY REFERENCE

                                      None
<PAGE>

                          Part I FINANCIAL INFORMATION

Item 1.               Financial Statements.


<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                  BALANCE SHEET

                                  JUNE 30, 1999
                                   (Unaudited)


                                     ASSETS



Cash and cash equivalents                                        $6,865,020

Accounts receivable                                                 305,939

Investments in leases                                            12,530,869
                                                            ----------------
                                                                $19,701,828
                                                            ================


                        LIABILITIES AND PARTNERS' CAPITAL


Non-recourse debt                                               $ 3,529,819

Accounts payable:
   General partners                                                  45,975
   Other                                                            199,454

Accrued interest payable                                             15,528

Unearned operating lease income                                     157,866
                                                            ----------------
Total liabilities                                                 3,948,642

Partners' capital:
     General partners                                               179,809
     Limited partners                                            15,573,377
                                                            ----------------
Total partners' capital                                          15,753,186
                                                            ----------------
                                                                $19,701,828
                                                            ================



                             See accompanying notes.





<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                        SIX AND THREE MONTH PERIODS ENDED
                             JUNE 30, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                Six Months                       Three Months
                                                              Ended June 30,                    Ended June 30,
                                                          1999             1998             1999             1998
Revenues:
<S>                                                       <C>               <C>             <C>               <C>
Lease revenues:
   Operating leases                                       $1,505,948       $1,906,135         $611,212       $1,001,732
   Direct financing leases                                   356,176          565,799          148,925          270,191
   Leveraged leases                                           80,864           93,742           13,245           46,870
Gain on sale of assets                                     5,137,639           48,343        3,157,632           17,211
Interest income                                               47,838           59,687           45,744           26,248
Other income                                                  12,012            4,093            7,161            1,051
                                                     ---------------- ---------------- ---------------- ----------------
                                                           7,140,477        2,677,799        3,983,919        1,363,303
Expenses:
Depreciation                                                 854,275        1,086,519          406,248          529,067
Equipment and incentive management fees                      353,153          265,280          170,756          155,199
Interest                                                     173,756          251,740           74,295          123,328
Other                                                        141,984           59,228           81,282           41,134
Amortization                                                 111,445          117,593           21,877           61,261
Administrative cost reimbursements                           100,007          119,085           69,398           40,287
Professional fees                                             20,959            8,369           15,000            5,231
Provision for losses                                               -           13,145                -                -
                                                     ---------------- ---------------- ---------------- ----------------
                                                           1,755,579        1,920,959          838,856          955,507
                                                     ---------------- ---------------- ---------------- ----------------
Net income                                                $5,384,898         $756,840       $3,145,063         $407,796
                                                     ================ ================ ================ ================
Net income:
     General partners                                        $53,849           $7,568          $31,451           $4,078
     Limited partners                                      5,331,049          749,272        3,113,612          403,718
                                                     ---------------- ---------------- ---------------- ----------------
                                                          $5,384,898         $756,840       $3,145,063         $407,796
                                                     ================ ================ ================ ================

Net income per limited partnership unit                        $0.71            $0.10            $0.42            $0.05
Weighted average number of units
   outstanding                                             7,487,350        7,487,350        7,487,350        7,487,350
</TABLE>

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                             SIX MONTH PERIOD ENDED
                                  JUNE 30, 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                      Limited Partners      General
                                           Units           Amount          Partners           Total
<S>                                         <C>            <C>                <C>            <C>
Balance December 31, 1998                   7,487,350      $15,484,740        $ 125,960      $15,610,700
Distributions to limited partners                           (5,242,412)               -       (5,242,412)
Net income                                                   5,331,049           53,849        5,384,898
                                      ---------------- ---------------- ---------------- ----------------
Balance June 30, 1999                       7,487,350      $15,573,377         $179,809      $15,753,186
                                      ================ ================ ================ ================
</TABLE>

                             See accompanying notes.

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                            STATEMENTS OF CASH FLOWS

                        SIX AND THREE MONTH PERIODS ENDED
                             JUNE 30, 1999 AND 1998
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                Six Months                       Three Months
                                                              Ended June 30,                    Ended June 30,
                                                          1999             1998             1999             1998
Operating activities:
<S>                                                      <C>                <C>            <C>                <C>
Net income                                               $ 5,384,898        $ 756,840      $ 3,145,063        $ 407,796
Adjustments to reconcile net income to net
   cash provided by operations:
   Depreciation                                              854,275        1,086,519          406,248          529,067
   Amortization                                              111,445          117,593           21,877           61,261
   Leveraged lease income                                    (80,864)         (93,742)         (13,245)         (93,742)
   Gain on sale of assets                                 (5,137,639)         (48,343)      (3,157,632)         (17,211)
   Provision for losses                                            -           13,145                -                -
     Changes in operating assets and liabilities:
        Accounts receivable                                  102,809          124,157          203,070           44,869
        Accounts payable, general partner                   (412,269)        (165,490)         (58,868)        (211,813)
        Accounts payable, other                              (17,727)         549,983          (60,978)         575,791
        Accrued interest payable                              (4,678)            (634)          (2,224)           2,659
        Unearned operating lease income                     (105,059)         (54,865)          32,698           (4,385)
                                                     ---------------- ---------------- ---------------- ----------------
Net cash from operations                                     695,191        2,285,163          516,009        1,294,292
                                                     ---------------- ---------------- ---------------- ----------------

Investing activities:
Proceeds from sales of assets                             11,397,850          496,550        7,777,411          365,874
Reduction in investment in direct financing
   leases                                                    747,394        1,279,275          352,400          612,437
Reduction in investment in leveraged leases                        -                -           (1,240)          46,872
                                                     ---------------- ---------------- ---------------- ----------------
Net cash provided by investing activities                 12,145,244        1,775,825        8,128,571        1,025,183
                                                     ---------------- ---------------- ---------------- ----------------

Financing activities:
Payments of non-recourse debt                             (1,104,894)      (1,135,103)        (510,230)        (574,080)
Distributions to limited partners                         (5,242,412)      (5,241,913)      (2,621,410)      (2,623,308)
                                                     ---------------- ---------------- ---------------- ----------------
Net cash used by financing activities                     (6,347,306)      (6,377,016)      (3,131,640)      (3,197,388)
                                                     ---------------- ---------------- ---------------- ----------------
Net decrease in cash and cash
   equivalents                                             6,493,129       (2,316,028)       5,512,940         (877,913)
Cash at beginning of period                                  371,891        3,990,096        1,352,080        2,551,981
                                                     ---------------- ---------------- ---------------- ----------------
Cash at end of period                                    $ 6,865,020      $ 1,674,068      $ 6,865,020      $ 1,674,068
                                                     ================ ================ ================ ================

Supplemental disclosures of cash flow information:

Cash paid during period for interest                       $ 178,434        $ 252,374         $ 76,519        $ 120,669
                                                     ================ ================ ================ ================
</TABLE>

                             See accompanying notes.

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 1998
                                   (Unaudited)


1. Summary of significant accounting policies:

Interim financial statements:

The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the general partners,  necessary to a fair statement of financial
position and results of operations for the interim periods  presented.  All such
adjustments are of a normal recurring nature.  These unaudited interim financial
statements  should be read in  conjunction  with the most recent  report on Form
10K.


2. Organization and partnership matters:

ATEL Cash  Distribution  Fund IV, L.P. (the  Partnership),  was formed under the
laws of the State of  California  on  September  19,  1991,  for the  purpose of
acquiring equipment to engage in equipment leasing and sales activities.

The Partnership's business consists of leasing various types of equipment. As of
June 30, 1999,  the  original  terms of the leases were from six months to eight
years.


3. Investment in leases:

The Partnership's investment in leases consists of the following:

<TABLE>
<CAPTION>
                                                                        Depreciation
                                                                        Expense or        Reclass-
                                                      December 31,     Amortization     ifications &       June 30,
                                                          1998           of Leases      Dispositions         1999
                                                          ----           ---------     --------------        ----
<S>                                                      <C>              <C>              <C>              <C>
Net investment in operating leases                       $ 9,415,647       $ (854,275)      $ (656,093)      $7,905,279
Net investment in direct financing leases                  5,252,294         (747,394)        (303,192)       4,201,708
Net investment in leveraged leases                         4,791,326           80,864       (4,872,190)               -
Residual value interests                                     582,057                -                -          582,057
Equipment held for lease                                     964,358                -         (571,376)         392,982
Initial direct costs, net of accumulated
   amortization of $911,060 in 1998 and
   $649,058 in 1999                                          333,647         (111,445)        (121,277)         100,925
Reserve for losses                                          (915,999)               -          263,917         (652,082)
                                                   ------------------ ---------------- ---------------- ----------------
                                                         $20,423,330      $(1,632,250)     $(6,260,211)     $12,530,869
                                                   ================== ================ ================ ================
</TABLE>


<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 1998
                                   (Unaudited)


3. Investments in leases (continued):

The following  schedule provides an analysis of the Partnership's  investment in
property on operating leases by major  classifications  as of December 31, 1998,
acquisitions and dispositions  during the quarters ended March 31, 1999 and June
30, 1999 and as of June 30, 1999.

<TABLE>
<CAPTION>
                                                                Acquisitions &
                               December 31,                      Dispositions       June 30,
                                   1998          1st Quarter      2nd Quarter         1999
                                   ----          -----------      -----------         ----
<S>                               <C>                <C>              <C>             <C>
Construction                      $ 4,985,297                                        $ 4,985,297
Printing                            4,393,249                                          4,393,249
Transportation                      3,005,244       $ (795,725)      $ (761,633)       1,447,886
Other                               2,130,174                -                -        2,130,174
Manufacturing                       1,587,670                -                -        1,587,670
Corporate aircraft                  1,328,569                -                -        1,328,569
Ground support                      1,127,988                -                -        1,127,988
Materials handling                    786,160                -                -          786,160
Data processing                       419,412                -                -          419,412
Office equipment                      216,080         (152,104)        (125,128)         (61,152)
                              ---------------- ---------------- ---------------- ----------------
                                   19,979,843         (947,829)        (886,761)      18,145,253
Less accumulated depreciation     (10,564,196)         160,989          163,233      (10,239,974)
                              ---------------- ---------------- ---------------- ----------------
                                  $ 9,415,647        ($786,840)       ($723,528)      $7,905,279
                              ================ ================ ================ ================
</TABLE>

All of the property on operating  leases was acquired during 1992,  1993,  1994,
1995, 1996 and 1997.

At June 30, 1999, the aggregate  amounts of future minimum lease payments are as
follows:

              Year ending       Direct
             December 31,      Financing        Operating          Total
                     1999          $939,787       $1,321,865       $2,261,652
                     2000         1,437,289        1,659,731        3,097,020
                     2001           921,709          999,089        1,920,798
                     2002           483,677          848,936        1,332,613
                     2003           396,720          617,484        1,014,204
               Thereafter           176,700                -          176,700
                            ---------------- ---------------- ----------------
                                 $4,355,882       $5,447,105       $9,802,987
                            ================ ================ ================





<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 1998
                                   (Unaudited)


4. Non-recourse debt:

Notes payable to financial  institutions are due in varying  monthly,  quarterly
and semi-annual installments of principal and interest. The notes are secured by
assignments  of lease  payments and pledges of the assets  which were  purchased
with the proceeds of the particular notes. Interest rates on the notes vary from
6.47% to 9.35%.

Future minimum principal payments of long-term  non-recourse debt as of June 30,
1999 are as follows:

           Year ending
          December 31,      Principal        Interest           Total
                  1999          $940,402         $123,885       $1,064,287
                  2000         1,535,205          151,656        1,686,861
                  2001           697,282           56,062          753,344
                  2002           250,450           19,870          270,320
                  2003           106,480            2,861          109,341
                         ---------------- ---------------- ----------------
                              $3,529,819         $354,334       $3,884,153
                         ================ ================ ================


5.  Related party transactions:

The terms of the  Agreement  of Limited  Partnership  provide  that the  General
Partners  and/or  Affiliates are entitled to receive  certain fees for equipment
acquisition, management and resale and for management of the Partnership.

The General Partners and/or  Affiliates  earned the following fees,  commissions
and reimbursements, pursuant to the Limited Partnership Agreement as follows:

                                               1999             1998
                                               ----             ----
Reimbursement of administrative costs           $ 100,007        $ 119,085

Incentive and equipment management fees           353,153          265,280
                                          ---------------- ----------------
                                                 $453,160         $384,365
                                          ================ ================

The amounts  above are gross  amounts  incurred by the General  Partners  and/or
Affiliates, including commissions to broker-dealers for the sales of Partnership
Units.




<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 1998
                                   (Unaudited)


6. Partner's capital:

The Fund is  authorized  to issue up to 7,500,000  Units of Limited  Partnership
interest in addition to the Initial Limited Partners.

The Fund's Net Profits,  Net Losses and Tax Credits are to be  allocated  99% to
the Limited Partners and 1% to the General Partners.

As more fully described in the Agreement of Limited Partnership,  available Cash
from  Operations  and Cash from Sales or  Refinancing  shall be  distributed  as
follows:

     First, 5% of  Distributions  of Cash from Operations to the General Partner
          as Incentive Management Fees.

     Second, the balance to the Limited Partners until the Limited Partners have
          received aggregate  Distributions,  as defined,  in an amount equal to
          their  Original  Invested  Capital,  as defined,  plus a 10% per annum
          cumulative  (compounded  daily)  return  on  their  Adjusted  Invested
          Capital, as defined.

     Third,  the General Partner will receive as Incentive  Management Fees, the
          following:

           (A) 10% of remaining Cash from Operations, as defined,

           (B) 15% of remaining Cash from Sales or Refinancing, as defined.

     Fourth, the balance to the Limited Partners.


7.  Line of credit:

The  Partnership  participates  with the  General  Partner  and  certain  of its
Affiliates in a $95,000,000 revolving credit agreement with a group of financial
institutions  which  expires on January  31,  2000.  The  agreement  includes an
acquisition  facility to be used by the  Partnership  and  Affiliates to provide
bridge financing for assets on leases.  Draws on the acquisition facility by any
individual  borrower  are  secured  only by that  borrower's  assets,  including
equipment and related leases.

The Partnership had no borrowings under the agreement during 1999.

The credit agreement  includes certain  financial  covenants  applicable to each
borrower.  The  Partnership  was in compliance with its covenants as of June 30,
1999.


<PAGE>

Item 2.               MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Capital Resources and Liquidity

Funds which have been  received,  but which have not yet been invested in leased
equipment, are invested in interest-bearing accounts or  high-quality/short-term
commercial paper.

The  Partnership's  primary source of liquidity during 1999 were lease revenues,
proceeds from the sales of lease assets and borrowings under the line of credit.
The  liquidity of the  Partnership  will vary in the future,  increasing  to the
extent cash flows from leases exceed  expenses,  and  decreasing as lease assets
are  acquired,  as  distributions  are made to the limited  partners  and to the
extent expenses exceed cash flows from leases.

The Partnership currently has available adequate reserves to meet contingencies,
but in the event those  reserves were found to be  inadequate,  the  Partnership
would  likely be in a position to borrow  against its current  portfolio to meet
such  requirements.  The general  partner  envisions  no such  requirements  for
operating purposes.

The  Partnership  participates  with the  General  Partner  and  certain  of its
affiliates  in  a  $95,000,000   revolving  line  of  credit  with  a  financial
institution. The line of credit expires on January 31, 2000.

As of June 30, 1999, the  Partnership  had borrowed  approximately  $38,342,000,
with a remaining unpaid balance of $3,529,819. Borrowings are to be non-recourse
to the  Partnership,  that is, the only  recourse  of the lender  will be to the
equipment or corresponding lease acquired or secured with the loan proceeds. The
general  partner  expects  that  aggregate  borrowings  in the  future  will  be
approximately  40% of aggregate  equipment cost. In any event,  the Agreement of
Limited  Partnership  limits  such  borrowings  to  40%  of the  total  cost  of
equipment, in aggregate.

No  commitments  of capital  have been or are expected to be made other than for
the acquisition of additional equipment. As of June 30, 1999, there were no such
commitments.

If  inflation  in the general  economy  becomes  significant,  it may affect the
Partnership  inasmuch as the residual  (resale) values and rates on re-leases of
the  Partnership's  leased  assets may  increase as the costs of similar  assets
increase.  However,  the  Partnership's  revenues from existing leases would not
increase,  as such rates are generally fixed for the terms of the leases without
adjustment for inflation.

If interest rates increase  significantly,  the lease rates that the Partnership
can obtain on future  leases will be expected to increase as the cost of capital
is a significant  factor in the pricing of lease  financing.  Leases  already in
place, for the most part, would not be affected by changes in interest rates.


<PAGE>

Cash Flows, 1999 vs. 1998:

Six months:

During the first six months of 1999, proceeds from sales of lease assets was the
primary sources of cash flows.

Cash flows from operations  decreased by $1,589,972 from ($2,285,163) in 1998 to
$695,191 in 1999.  The  decrease is a result of decreased  operating  and direct
financing  lease revenues and by increases in the amounts of cash used to reduce
certain accounts payable compared to 1998.

Sources of cash from investing  activities  consisted of proceeds from the sales
of  lease  assets  and  from  direct  financing  lease  rents  accounted  for as
reductions of the net  investment in such leases.  Proceeds from sales of assets
increased from $496,550 in 1998 to $11,397,850 in 1999.

In 1999 and 1998, there were no sources of cash from financing  activities.  The
amounts of cash used to repay  non-recourse debt and the amounts  distributed to
the Limited Partners did not change significantly.

Three months:

Proceeds from sales of lease assets was the primary  source of cash flows in the
second quarter of 1999.

Operating  lease rents have  decreased by  $6390,520  from the prior year due to
asset sales  during the  preceding  twelve  months.  These rents are the primary
source of cash from operations.

In 1999,  proceeds from lease assets sales were the most  significant  source of
cash  from  investing  activities.  They  increased  from  $365,874  in  1998 to
$7,777,411  in 1999 due to  increased  amounts of asset sales as noted above for
the six month period.

During the second quarter of 1999 and 1998,  there were no financing  sources of
cash.  Payments of non-recourse debt decreased  slightly for the same reasons as
noted above for the six month period.


Results of Operations

In 1999,  operations  resulted  in net  income of  $5,384,898  for the six month
period  and  $3,145,063  for the  three  month  period.  Operations  in the 1998
resulted in net income of $756,840 for the six month period and $407,796 for the
three month period.

Revenues increased from $2,677,799 in 1998 to $7,140,477 in 1999, an increase of
$4,462,678.   Operating  lease  revenues  declined  by  $406,187  due  to  lease
terminations  and sales of the  related  assets.  Gains  recognized  on sales of
assets  increased by $5,089,296  compared to 1998.  Most of the assets sold were
assets which had been on leveraged leases.

The  Partnership's  operating  expenses  decreased by $165,380 for the six month
period and by $116,651 for the three month period. Most of the decrease resulted
from decreased  depreciation  expense.  Depreciation  has decreased as operating
leases have  matured and as the  underlying  assets have been sold over the last
year.





<PAGE>

                            PART II OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS.

         Inapplicable.

Item 2. CHANGES IN SECURITIES.

         Inapplicable.

Item 3. DEFAULTS UPON SENIOR SECURITIES.

         Inapplicable.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         Inapplicable.

Item 5. OTHER INFORMATION.

         Inapplicable.

Item 6. EXHIBITS AND REPORTS ON FORM 8-K.

                   (a)Documents filed as a part of this report

                   1.   Financial Statements

                        Included in Part I of this report:

                        Balance Sheet, June 30, 1999

                        Income  statements  for the six and three month  periods
                        ended June 30, 1999 and 1998.

                        Statement  of  changes in  partners'  equity for the six
                        months ended June 30, 1999.

                        Statements  of cash  flows for the six and  three  month
                        periods ended June 30, 1999 and 1998.

                        Notes to the Financial Statements.

                   2.   Financial Statement Schedules

                        All other  schedules for which  provision is made in the
                        applicable accounting  regulations of the Securities and
                        Exchange  Commission  are not required under the related
                        instructions  or are  inapplicable,  and therefore  have
                        been omitted.

                   (b)  Report on Form 8-K

                        None

<PAGE>

                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Date:
August 13, 1999

                      ATEL CASH DISTRIBUTION FUND IV, L.P.
                                  (Registrant)



                             By: ATEL Financial Corporation
                                 General Partner of Registrant




                             By:    /s/ A.  J.  BATT
                                   ---------------------------------
                                   A. J. Batt
                                   President and Chief Executive Officer
                                   of General Partner




                             By:     /s/ DEAN L. CASH
                                   ---------------------------------
                                   Dean L. Cash
                                   Executive Vice President
                                   of General Partner




                             By:   /s/ PARITOSH K. CHOKSI
                                 ----------------------------------------------
                                 Paritosh K. Choksi
                                 Principal financial officer of registrant




                             By:   /s/ DONALD E.  CARPENTER
                                 ----------------------------------------------
                                 Donald E.  Carpenter,
                                 Principal accounting officer of
                                 registrant